Licensing Changes for Fourth Quarter 2011

Bulletin

No. [G-04/11]

[-General]

NOTE: The bulletins that are posted on this website are provided for historical reference purposes. The information in these bulletins is accurate on the date the information is published, but is subject to change and may be replaced by more recent bulletins.

An order that is made regarding a licence holder reflects a situation at a particular point in time. The status of a licence holder can change. Readers should check the current status of a person's or entity's licence on the Licensing Link section of FSCO's website. Readers may also wish to contact the person or entity directly to get additional information or clarification about the events that resulted in the order.

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The Financial Services Commission of Ontario (FSCO) is releasing the following information about licensing changes during the fourth quarter, October 1 to December 31, 2011:

statistics on the disposition of applications for new licences and renewals;
applications for licence changes and cancellations; and,
statistics on other licensing and related services provided by FSCO.

These changes relate to individuals and organizations in the financial services sectors under FSCO’s jurisdiction: insurance, credit unions/caisses populaires, co-operative corporations, loan and trust corporations, and mortgage broking. General information on pensions, another financial services sector under FSCO’s jurisdiction, can be obtained by visiting FSCO’s website at www.fsco.gov.on.ca.

INSURANCE COMPANIES

(Listed by effective date)

New Licences:

The following insurer received a licence:
	Effective Date
Partner Reinsurance Europe Public Limited Company (Life Branch) The company is licensed for: accident and sickness (limited to business of reinsurance) Jurisdiction of incorporation: federal Partner Reinsurance Europe Public Limited Company (Life Branch) contact in Ontario is: Mr. Herve Castella Chief Agent 123 Front Street West, Suite 909 Toronto, Ontario M5J 2M2 Tel: (416) 861-2051 Fax:(416) 861-0200 Licence Cancellations:	December 28, 2011
The licences of the following insurers were cancelled after satisfactory arrangements were made for any insurance liabilities:	Cancellation Date

Seaton Insurance Company The company has ceased operations in Canada and has no remaining liabilities.	October 31, 2011
Pearl Assurance Public Limited Company The company has ceased operations in Canada and has no remaining liabilities. On June 13, 2011 the company transferred all its insurance business to Omega General Insurance Company.	December 22, 2011
Partner Reinsurance Europe Limited The company has ceased operations in Canada and has no remaining liabilities. On January 1, 2011 the company transferred all its insurance business to Partner Reinsurance Company of the U.S.	December 28, 2011
Aviva International Insurance Limited The company has ceased operations in Canada and has no remaining liabilities. On December 31, 2011, the company transferred all its insurance business to Aviva Insurance Company of Canada.	December 31, 2011

Licence Amendments:

The following insurers made amendments to their licences:
	Effective Date
White Mountains Reinsurance Company of America The name was changed to Sirius America Insurance Company.	October 21, 2011
Yarmouth Mutual Fire Insurance Company, The Class added: boiler and machinery	October 21, 2011
Everest Reinsurance Company Class added: mortgage (limited to the reinsurance of Property Valuation Insurance)	November 2, 2011
York Fire & Casualty Insurance Company The name was changed to Unica Insurance, and in French, Unica assurances inc.	November 14, 2011
Associated Electric & Gas Insurance Services Limited Class added: marine	December 28, 2011
SSQ, Life Insurance Company Inc. Class added: credit protection	December 28, 2011

LICENSING STATISTICS

The statistics below provide information on FSCO’s review of applications for insurance licences and other related services. All of the provided figures represent the number of applications that were received, issued or pending, unless otherwise indicated.